Supplier (or vendor) onboarding is where bank details first enter your systems. From that point on, every payment to the supplier uses those details. If they are wrong — through error or fraud — that mistake gets repeated on every payment until someone notices.
Verify at the source
The cleanest place to catch a wrong IBAN is the moment it is captured. Running Verification of Payee during onboarding confirms the account name matches the supplier you are setting up, before the details reach your master data.
Onboarding is not a one-off
Most fraud happens through a later change of details, not the original setup. Re-verify whenever bank details change, not just at onboarding.
Where VoP fits
- 1 Run Verification of Payee as part of the supplier onboarding form.
- 2 Block or flag onboarding when the name does not match.
- 3 Re-verify automatically on any later change of bank details.
- 4 Log outcomes against the supplier record for audit.
Clean supplier data from day one
RoxPay's Verification of Payee API drops into onboarding workflows so suppliers are verified the moment they are added, keeping your master data clean and your payments safe.